Forecast: Total Support on Petroleum for Fossil Fuel Production in China

The forecasted total support for petroleum in China's fossil fuel production shows a consistent decline from 2024 to 2028. In 2023, this support stood at 2.03 billion US dollars. The data indicates a year-on-year decrease of approximately 2.5% by 2025, with a consistent downward trend through 2028. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) suggests a consistent reduction of about 2.7% per year.

Future trends to watch for:

  • Impact of China's energy policy shifts towards renewable sources.
  • Potential global oil market fluctuations that may influence support levels.
  • Technological advancements in energy efficiency and their effect on fossil fuel dependency.

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